India’s economic growth rate may be 7 percent in 2024-25, IMF released estimate

India GDP Data: The Indian economy can grow at the rate of 7 percent in the financial year 2024-25. The International Monetary Fund has released the World Economic Outlook growth estimate. According to IMF, India’s GDP is estimated to be 7 percent in the current financial year. Even in the month of July, IMF had expressed confidence of 7 percent economic growth rate in its estimate. However, this is 0.2 percent more than the projection released in April 2024.

IMF said in its growth outlook, GDP growth in India will be 7 percent in 2024-25 as compared to 8.2 percent in financial year 2023-24, while GDP growth is estimated to be 6.5 percent in 2025-26. According to the IMF, the pent-up demand that was seen during the Corona epidemic is now ending and the economy is now showing growth as per its potential. According to the International Monetary Fund, the global economy will show growth at the rate of 3.2 percent in 2024.

IMF Growth Forecast: 2024

🇺🇸US: 2.8%
🇩🇪Germany: 0.0%
🇫🇷France: 1.1%
🇮🇹Italy: 0.7%
🇪🇸Spain: 2.9%
🇬🇧UK: 1.1%
🇯🇵Japan: 0.3%
🇨🇦 Canada: 1.3%
🇨🇳China: 4.8%
🇮🇳India: 7.0%
🇷🇺Russia: 3.6%
🇧🇷Brazil: 3.0%
🇲🇽 Mexico: 1.5%
🇸🇦KSA: 1.5%
🇳🇬Nigeria: 2.9%
🇿🇦RSA: 1.1%https://t.co/sDv9tK6YQb pic.twitter.com/epCi3VT13o

— IMF (@IMFNews) October 22, 2024

The Reserve Bank of India has also estimated the economic growth rate to be 7.2 percent in the current financial year. The World Bank has estimated a growth rate of 7 percent. On the inflation front, the International Monetary Fund has said in its estimate that there will be a decline in inflation at the global level. Inflation rate is estimated to be 5.8 percent in 2024 as compared to 6.7 percent in 2023. In its forecast for India, the IMF said, the inflation rate in India is expected to be 4.4 percent in the financial year 2024-25 and 4.1 percent in the financial year 2025-26. IMF said in its Outlook, goods prices are now stabilizing but service price inflation still remains high in many regions.

According to the IMF, due to the rise in commodity prices due to global tensions, there may be a delay in cutting interest rates by central banks, which may cause a blow to fiscal policy and financial stability.

read this also

Adani Group expanded its empire, announced to buy Orient Cement for Rs 8100 crore